Original disclosure @ IFC website
Updated in EWS Jul 11, 2022
Disclosed by Bank Jun 30, 2022
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According to the Bank´s website, the proposed investment consists of a financial package to Telecom Argentina S.A. (“Telecom” or the “Company”) for an aggregate amount of up to US$202 million (“m”), comprising (i) an A loan, for IFC’s own account, in an amount of up to US$50m; (ii) a B loan, for the account of the participants, in an amount of up to US$148m; and (iii) an overlay interest rate swap for a loan equivalent exposure of up to US$4m. The purpose of the investment is to fund the expansion of the Company’s 4G mobile and FTTP/B (fiber-to-the-premise/block) fixed broadband coverage, and to upgrade the existing network’s capacity, speed and energy efficiency (the “Project”). The Project is expected to result in improved quality of digital connectivity, increase subscriber growth, improve energy efficiency of the network, and benefit underserved areas such as La Consulta in the Province of Mendoza, Villa El Salvador in San Juan or Rivera in the Province of Buenos Aires. The enhancements to existing facilities will not only expand connection speeds, but also incorporate new technology that measurably improves energy efficiency.
The proposed investment consists of a financial package to Telecom Argentina S.A. (“Telecom” or the “Company”) for an aggregate amount of up to US$202 million (“m”), comprising (i) an A loan, for IFC’s own account, in an amount of up to US$50m; (ii) a B loan, for the account of the participants, in an amount of up to US$148m; and (iii) an overlay interest rate swap for a loan equivalent exposure of up to US$4m.
The total Project cost is estimated at US$300m, which will be financed with a combination of internal cash generated by the Company, and the financial package provided by IFC. The proceeds will partly finance Telecom’s capital expenditure plan for the next two years, to expand and enhance mobile and fixed broadband coverage in Argentina and to upgrade its existing network.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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